Stephens Inc. AR Sells 324 Shares of AbbVie Inc. $ABBV

Stephens Inc. AR decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 145,018 shares of the company’s stock after selling 324 shares during the period. Stephens Inc. AR’s holdings in AbbVie were worth $26,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. Beverly Hills Private Wealth LLC boosted its holdings in shares of AbbVie by 0.5% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 13,781 shares of the company’s stock valued at $2,558,000 after acquiring an additional 65 shares in the last quarter. Altus Wealth Group LLC boosted its holdings in shares of AbbVie by 15.3% during the 2nd quarter. Altus Wealth Group LLC now owns 3,834 shares of the company’s stock valued at $712,000 after acquiring an additional 510 shares in the last quarter. LMG Wealth Partners LLC boosted its holdings in shares of AbbVie by 0.3% during the 2nd quarter. LMG Wealth Partners LLC now owns 21,722 shares of the company’s stock valued at $4,032,000 after acquiring an additional 59 shares in the last quarter. Balboa Wealth Partners boosted its holdings in shares of AbbVie by 17.0% during the 2nd quarter. Balboa Wealth Partners now owns 9,135 shares of the company’s stock valued at $1,696,000 after acquiring an additional 1,325 shares in the last quarter. Finally, Uhlmann Price Securities LLC boosted its holdings in shares of AbbVie by 2.3% during the 2nd quarter. Uhlmann Price Securities LLC now owns 5,130 shares of the company’s stock valued at $952,000 after acquiring an additional 116 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Guggenheim raised their price objective on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. UBS Group set a $251.00 price objective on AbbVie in a report on Friday, October 3rd. Wall Street Zen downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and lifted their target price for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $234.05.

AbbVie Stock Up 1.2%

Shares of ABBV opened at $229.66 on Monday. The company has a market capitalization of $405.71 billion, a PE ratio of 109.36, a PEG ratio of 1.43 and a beta of 0.51. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The stock’s 50-day moving average price is $217.91 and its two-hundred day moving average price is $197.52. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the previous year, the company earned $2.65 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is 312.38%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.